five years ago, they would go to out-of-the-way places to save on taxes, but the tax issue has gone away in e-commerce, and they're coming right in with the population is. >> it is all because of this demand for same day delivery -- >> it is going in that direction . nothing is getting slower. >> we will be back with hamid moghadam, the chairman and ceo of prologis. coming up, dish pulling ahead in the race to deliver television over the internet. can it succeed where others have failed? ♪ >> we are back with prologis chairman and ceo hamid moghadam. we were talking about what is going on in the u.s., but i'm curious about what is going on on overseas because we care about emerging markets not growing like they used to -- because we hear about how emerging markets are not growing like they used to. what are you saying outside of the u.s.? >> emerging markets have slowed down, brazil and mexico have been slow, but our business is gdp.ed to consumption, not consumption is related to the emergence of the middle class, and these companies are going through a phase where they are in the ste